The economy is still very dependent on oil despite diversification, in particular in the petrochemical sector. For many years the Kingdom of Saudi Arabia has been the world’s largest petroleum producer and exporter. In 2011 it pumped about 1.7142 million m 3 (10.782 million bbl) per day of petroleum.
What type of energy does Saudi Arabia produce?
Energy in Saudi Arabia involves petroleum and natural gas production, consumption, and exports, and electricity production. Saudi Arabia is the world’s leading oil producer and exporter. Saudi Arabia’s economy is petroleum-based; oil accounts for 90% of the country’s exports and nearly 75% of government revenue.
What are the new oil fields in Saudi Arabia?
The new fields are Haradh, Khurais, Khusaniyah, Manifa, Neutral Zone (shared with Kuwait), Nuayyin and Shaybah I II & III. Saudi Arabia is the major oil producer in the world accounting for 12.9% of the global production.
How much oil does Saudi Arabia produce a day?
Saudi Arabia produces over 1.6 million m 3 (10 million bbl) per day of oil, exporting 1.4 million m 3 (8.9 million bbl) per day. The government is investing over $71 Billion to increase oil production to near 1.9 million m 3 (12 million bbl) per day by 2009 and up to 2.0 million m 3 (12.5 million bbl) per day by 2015.